The Only Inalienable Way to Stop a Foreclosure

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OTHER THAN BECOMING CURRENT ON PAST DUE PAYMENTS
THERE IS ONLY ONE WAY TO IMMEDIATELY AND LEGALLY STOP A FORECLOSURE
(AND YOU DON’T NEED YOUR LENDER’S COOPERATION!)

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So, you’ve been researching the variety of options available to stopping the foreclosure on your home and your choices are confusing, frustrating and lack assurances of success.

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“Loss Mitigation Alternatives”

(work-out agreements, loan modification, short-sale, deed-in-lieu of foreclosure)
and “Foreclosure Defense” MAY stop the foreclosure.

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A Chapter 13 Bankruptcy SAVE-THE-HOME repayment plan

WILL stop the foreclosure!*

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Loss Mitigation Alternatives and Foreclosure Defense can take months or more than a year to maybe, sort of, kinda’ possibly … provide a formal, legal cancellation of the foreclosure.

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A Chapter 13 SAVE-THE-HOME plan can be prepared and implemented within days and

WILL stop the foreclosure!*

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It costs you nothing to find out if a Chapter 13 SAVE-THE-HOME plan will work for you

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THE CONSULTATION IS FREE!  CALL TODAY TO SET YOUR APPOINTMENT

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In nearly all cases I can tell you, during the 90 minutes of the consultation, if you qualify and if you and your family will benefit from filing a Chapter 13 SAVE-THE-HOME plan.  You will NOT need to wait days, weeks, or months to know if this option will work for you

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*Filing for Bankruptcy under Chapter 13 of the Bankruptcy Code must be done in good faith with a fair and feasible proposed plan.  Doing so WILL stop the foreclosure.  It is not to be used abusively to simply stop a sheriff’s sale.

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HOW A CHAPTER 13 “SAVE-THE-HOME” PLAN WORKS:

The basic premise of any Chapter 13 Bankruptcy is to propose a “Plan” of repayment of your debt, rather than seeking a complete discharge of your debt through a Chapter 7.  Within that basic premise is scheme to pay certain debt as a “priority.”  Priority debt is debt that gets paid first and gets paid in full.  Past due mortgage payments, called mortgage arrears, are a priority debt.  This can include past due property taxes, taxes owed to the IRS or the Illinois Department of Revenue, past due child support or maintenance, etc.

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Now, if your financial situation has improved since the time that your began to fall behind on your mortgage payments and, if your lender would just give you a chance to get caught up, you would do so BUT, they keep demanding that your get caught up all at once with one giant payment.

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In a Chapter 13 Save-The-Home Plan, we propose adding up the total mortgage arrears and dividing that amount into 60 equal payments.  We then tell your lender that, starting next month, we will resume making the regular monthly mortgage payment, as though current, and make the catch-up payment to the Chapter 13 Trustee, who will them forward payment on the mortgage arrears to the lender as a priority debt.

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We need only prove two things to get the Bankruptcy Court to ORDER your lender to go along with this proposed plan:  Fairness and Feasibility.  Fairness is the lender being paid the total arrears in full.  Feasibility is the evidence (your paycheck stubs, profit and loss statements for the self-employed, etc.) that you now have enough income to fully fund the proposed Plan.  So long as those two things are established, your lender must go along.  So long as those two things are demonstrated, the Bankruptcy Court will Order the state court foreclosure action be stopped.

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THE CONSULTATION IS FREE!  CALL TODAY TO SET YOUR APPOINTMENT